Nearly Rs 3 Lakh Crore Tax Yet To Be Collected

  Highlights  * Nearly 81% companies and individuals paid tax voluntarily in 2010-11. * Authorities say they cannot find assets to collect taxes. * West Bengal had the highest value of tax assessments at Rs 2,637 crore.     Last week, we talked about the total tax collection and the number of tax payers in … Continued

Air-India’s Dreams Line Up

Sinking national carrier Air India is reportedly considering cancelling or postponing a deal to acquire 27 Boeing Dreamliner aircraft. The aircraft were ordered in 2005, as part of a Rs 30,000 crore ($6.6 billion), 68 aircraft acquisition programme, say media reports. The delivery of the Dreamliner is also running two years late.   Recently annointed … Continued

NAL Needs Rs 7,555 Crore To Develop 90-Seater Passenger Aircraft

Someone pointed out how it cost Gillette more than $750 million to develop its Mach3 series of razor blades. While India was developing entire automotive programmes like Mahindra Scorpio or Tata Nano in less than $500 million. Or better still, aircraft development.   India’s National Aerospace Laboratory or NAL has said it needs Rs 7,555 crore … Continued

Air India Scores Negative Rating From Moody’s

The only path left is to invite NatGeo post haste to film an episode because thats one way of earning revenue over a long period.   So it’s not just the airline that’s sinking, it’s a few others as well. Moody’s Investors Service Inc has said Air India’s recurring default is `credit negative’ for its … Continued

Air-India: Get The Right CEOs

The Government has appointed Rohit Nandan as Chairman of Air India, a bureaucrat from the Ministry of Civil Aviation with no seeming experience of ever having run a corporation, leave alone an airline. Nothing unusual because in Air-India’s long history, this is sorts who have been appointed to this position and arguably the reason for many … Continued

In A Tailspin

The penny should drop but amazingly, its not. India’s national airline Air-India is now hemorrhaging deeply. Salaries are behind by several months and there is no strategy in place, at least one that will fly. The latest blow is that Star Alliance, a global network of airlines catering to frequent international travelers, has suspended Air … Continued

Flight To Losses

Why do we need a state-run airline called Air India? The only answer seems to be that it’s an effective favours and dole dispenser – read free seats and freer upgrades for politicians and bureaucrats. Paid for by taxpayers of course. Here’s the bill: losses for the `proud’ flag carrier stand at Rs 7,000 crore, … Continued